BITCOIN - BEAR TRAP!

2022년 12월 20일

Hello friends!

I come to bring another modest reading about BTC!

Note that BTC has made the search for the fibonacci retracement zone that we have pointed out in previous studies.
And see that exactly at the 0.618 fibonacci support, the buyers engulfed the sellers.
This candlestick pattern known as engulfing, is when the current candlestick completely engulfs the previous candlestick. When this occurs in important support zones like the one we are in, it is called a trap. In this case it was a bear trap.
The projection of this trap takes us back to the above retracement zone that was already tested once, at 18200.
Have you noticed this trap on the daily chart?

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To the next!